Ma kölcsönzöm a kézikönyvet.

A simple breakdown is:

• Ma = today
• kölcsönzöm = I borrow / I am borrowing
  
  • specifically, I borrow it with a definite object
• a = the
• kézikönyvet = manual / handbook in the accusative case, so it is the direct object

So structurally it is:

• Today
  • I am borrowing
    • the manual

Because Hungarian often leaves out the subject pronoun when it is clear from the verb ending.

• kölcsönzöm already tells you the subject is I
• so én is not necessary

You could say:

• Én ma kölcsönzöm a kézikönyvet

but that would usually add emphasis, something like:

• I’m the one borrowing the manual today.

This is one of the most important grammar points in the sentence.

Hungarian has two kinds of verb conjugation:

• indefinite conjugation
• definite conjugation

Because the object here is a kézikönyvet = the manual, it is definite, so the verb also takes the definite form:

• kölcsönzöm = I borrow it / I am borrowing it

Compare:

• Kölcsönzök egy kézikönyvet. = I’m borrowing a manual.
  
  • indefinite object → kölcsönzök
• Kölcsönzöm a kézikönyvet. = I’m borrowing the manual.
  
  • definite object → kölcsönzöm

Because it is the direct object of the sentence, and Hungarian usually marks direct objects with the accusative ending -t.

Base form:

• kézikönyv = manual / handbook

Accusative form:

• kézikönyvet = manual / handbook as the object

The -e- before -t is a linking vowel that makes the word easier to pronounce.

So:

• a kézikönyvet = the manual as the thing being borrowed

Yes, -t shows that the noun is the object, but it does not replace the article.

These are two different jobs:

• a = shows definiteness, like English the
• -t = shows accusative/direct object

So in a kézikönyvet:

• a = the
• kézikönyvet = manual in object form

Hungarian commonly uses both.

Yes, it is present tense in form, but Hungarian often uses the present tense for a planned, near-future, or scheduled action, especially when a time word makes it clear.

So Ma kölcsönzöm a kézikönyvet can sound like:

• I’m borrowing the manual today
• I’ll borrow the manual today

The time word ma makes the time frame clear, so Hungarian does not need a separate future form here.

Because Hungarian word order is quite flexible, and the beginning of the sentence often sets the topic or time frame.

Starting with Ma is very natural and means something like:

• Today, I’m borrowing the manual.

It frames the sentence around today.

This is common in Hungarian:

• Ma találkozom vele. = I’m meeting him/her today.
• Ma dolgozom. = I’m working today.

Yes, but the emphasis may change.

For example:

• Ma kölcsönzöm a kézikönyvet.
  Neutral: Today I’m borrowing the manual.

• Ma a kézikönyvet kölcsönzöm.
  This puts extra focus on a kézikönyvet:
  Today it’s the manual that I’m borrowing (not something else).

• A kézikönyvet ma kölcsönzöm.
  This can make the manual the topic, roughly:
  As for the manual, I’m borrowing it today.

A useful rule of thumb: the element right before the verb often gets stronger focus.

It can be, but there is some nuance.

kölcsönöz is common in more formal, library, rental, or institutional contexts. Depending on context, it can sometimes be interpreted as borrow or lend, so Hungarian often uses more specific verbs in everyday speech:

• kölcsönkér = to borrow
• kölcsönad = to lend
• kikölcsönöz = to check out / borrow from a library

So your sentence is grammatical and understandable, especially in a context like borrowing a handbook, but learners should know that Hungarian also has these more specific alternatives.

The dictionary form is:

• kölcsönözni = to borrow / to lend / to loan, depending on context

The form in the sentence is:

• kölcsönzöm = I borrow it

What is happening is:

• verb stem used here: kölcsönz-
• ending: -öm for 1st person singular definite

So:

• kölcsönz- + -öm = kölcsönzöm

This is something you mostly learn as part of the verb’s conjugation pattern.

A few useful points:

• Hungarian stress is usually on the first syllable of each word:
  • MA
  • KÖLcsönzöm
  • KÉzikönyvet

Some tricky letter combinations:

• cs = like ch in chair
• ny = like ñ in Spanish señor, or the ny sound in canyon
• ö / ő = a rounded front vowel, similar to German ö or French eu
• é = a long e sound

So roughly by syllables:

• ma
• köl-csön-zöm
• ké-zi-köny-vet

Yes, very much so.

It is a compound:

• kézi = hand / hand-held / manual
• könyv = book

So kézikönyv is very close in idea to English handbook or manual.

That is a helpful thing to notice, because Hungarian often builds words this way.